Merry Old?

[NewHope]

I guess "maeery old" is Eutopia?

Context:

Old King Cole

Melody -

Old King Cole was a merry old soul,
And a merry old soul was he;
He called for his pipe, he called for his glass,
And he called for his fiddlers three.

Every fiddler he had a fine fiddle,
And a very fine fiddle had he;
Twee-tweedle-dee, tweedle-dee, went the fiddlers.
Oh, there's none so rare as can compare
With King Cole and his fiddlers three!

[Dany]

I guess "merry old" is Eutopia?

What Do you mean with "Eutopia"? I don't find this in any dictionary.

[NewHope]

Eutopia = Utopia.